Application of the TOPSIS Method for Preliminary Assessment of Technological Transfer Options

In modern times, the business success of enterprises is increasingly the result of the development of science and the accelerated introduction of new advances. Innovations is becoming the key to success. Under these conditions, the importance of technology transfer is also becoming a main "strategic way of meeting the challenges of globalization in business" (Mayer and Blaas, 2002). With the increasing importance of technological transfer, increases the interest in the theoretical elucidation and empirical research of various aspects of its implementation in enterprises.In view of the above, the aim of this paper is to propose a method for the preliminary assessment of alternative technology transfer options based on the use of the TOPSIS method (The Technique for Order of Preference by Similarity to Ideal Solution) (Hwang and Yoon, 1981). It allows an initial assessment and selection of technological transfer options on the base of preliminary selected important criteria. As a result, businesses can reduce the number of options that will later be subject to a more in-depth assessment, from the list of already selected ones, by choosing only those who have good potential and are in their capabilities. In this way the experts’ efforts are focused and their work, concerning the selection of a transfer option in which to invest, is also significantly relieved.